Nazia Saeed
- Altcoins made up 71% of Binance Futures volume, with daily totals surpassing $100 billion
- Over 32,000 BTC flowed into exchanges, pointing to profit-taking and rotation into altcoins
- TRX led early altseason signs by decoupling from Bitcoin performance since March
A fresh altseason may be underway as daily trading volume on Binance Futures surged to $100.7 billion on July 22 the highest seen since early February. According to data shared by crypto analyst Maartunn, altcoins now account for a staggering 71% of the trading volume on Binance Futures, revealing a sharp pivot in trader attention away from Bitcoin.
While Bitcoin has held relatively stable in volume and pricing, the jump in altcoin trades signals renewed appetite for risk-on assets. Binance is once again at the centre of this shift. On the spot market, altcoin volume across all centralised exchanges reached $57.6 billion, with Binance handling $24 billion, or about 41.5% of the global total.
In effect, nearly every second altcoin spot trade is now taking place on Binance, underscoring the platform’s dominance during this critical phase of altcoin resurgence.
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Bitcoin exchange inflows hint at capital rotation
At the same time, onchain metrics show that more than 32,000 BTC entered centralised exchanges, marking the largest net inflow since July 2024. Historically, such large inflows often precede a correction in Bitcoin’s price, as traders look to lock in profits.
This pattern is fuelling speculation that capital is actively rotating into the altcoin sector. If past market cycles are a guide, such shifts in liquidity tend to amplify altcoin rallies as capital seeks higher beta plays for potentially outsized returns.
According to market watchers, this flow dynamic could increase volatility in both BTC and altcoins. While some see this as a bullish sign for the broader crypto market, others are warning that the altseason may not lift all tokens equally.
Tron emerges as early Altseason winner
Crypto analyst Timo Oinonen pointed to Tron (TRX) as one of the few altcoins showing early signs of decoupling from Bitcoin’s movements — a pattern often observed during selective altseasons. TRX has consistently outperformed BTC since March, despite Bitcoin’s strong year-to-date performance.
This divergence may indicate that capital is already rotating into a handful of high-performing or high-hype tokens, leaving the broader altcoin market behind. With over 43.4 million token contracts currently deployed, the altcoin landscape is more crowded than ever, making it harder for weaker projects to stand out.
Oinonen added that this might become a fragmented altseason, where gains concentrate in a few standout tokens rather than across the board. Traders may need to lean heavily on fundamentals, hype cycles, and onchain activity to identify the winners.
Outlook: Rotation or rally?
With altcoins capturing the lion’s share of trading volume and Bitcoin seeing increased exchange inflows, market conditions appear primed for continued altcoin activity. However, whether this evolves into a broad-based rally or a targeted surge for select tokens remains to be seen.
Either way, Binance remains the epicentre of this trading activity, as volume patterns, volatility indicators, and capital shifts all converge to push altseason narratives further into the spotlight.
